Debt Waiver Agreement between LI, FU-CHANG and Henan Law Anhou Insurance Agency Co., Ltd.

Contract Categories: Business Finance › Waiver Agreements
Summary

This agreement is between LI, FU-CHANG and Henan Law Anhou Insurance Agency Co., Ltd. LI, FU-CHANG agrees to forgive and permanently waive repayment of a loan totaling RMB 6,210,250 previously provided to the company. The waiver is unconditional, with no payment or compensation required from the company. Both parties confirm that all necessary approvals have been obtained. The agreement is effective as of March 31, 2011.

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EX-10.32 5 v240395_ex10-32.htm EXHIBIT 10.32
 
Debt Waiver Agreement

Party A: LI, FU-CHANG
Party B: Henan Law Anhou Insurance Agency Co., Ltd.

Party A continually loan to Party B for the purpose of operation and development of Party B with a grand total of RMB:6,210,250 as of March, 31, 2011. Due to the subsequent merger of enterprises, and through friendly consultation by both Parties, Party A and Party B reach following agreements:

1.
Party A hereby covenant to waive his claim to the creditor's rights;
2.
Debt Waiver hereof is unpaid and without consideration, Party A shall not ask for any price or cost from Party B;
3.
This Debt Waiver Agreement has obtained all authorizations and approvals by both party and relevant internal authority.

Party A: LI, FU-CHANG
(Signed by):
Party B (Sealed by): Henan Law Anhou Insurance Agency Co., Ltd.
(Sealed by):
 
 
 
Date:  March 31st, 2011
Date:  March 31st, 2011